Working natural gas inventories currently stand at 3,772 Bcf. This figure is 271 Bcf (7.2%) less than this time last year and 101 Bcf (2.7%) below the five year average.
The December 2017 NYMEX Future was elevated at over $3.10/MmBTU before the report’s release, and has since depressed to under $3.06/MmBTU.
Outlook for the Balance of Storage Season:
The graph below compares historical 12, 24 and 36 month strip prices and storage levels for the past 5 years.
The following table shows the injection numbers we will need to average by week to hit selected historical levels:
The following two graphs show current natural gas in storage compared to each of the last 5 years and weekly storage averages and patterns.
The graph below shows the injections through the current week over the past 5 years.
Finally, the graphics below depicts the 6 to 10 day temperature range outlook from the National Weather Service.
Current Week’s Outlook